Kowal Investment Group LLC Purchases 391 Shares of Intuit Inc. (NASDAQ:INTU)

Kowal Investment Group LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 103.7% in the third quarter, Holdings Channel reports. The institutional investor owned 768 shares of the software maker’s stock after buying an additional 391 shares during the period. Kowal Investment Group LLC’s holdings in Intuit were worth $477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Intech Investment Management LLC raised its holdings in shares of Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the last quarter. GAMMA Investing LLC raised its holdings in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares in the last quarter. Cetera Advisors LLC grew its stake in Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after purchasing an additional 1,328 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Intuit by 13.0% in the 1st quarter. New Mexico Educational Retirement Board now owns 16,478 shares of the software maker’s stock valued at $10,711,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $609.39 on Thursday. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $170.35 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.04 and a beta of 1.24. The firm has a 50 day simple moving average of $631.07 and a 200 day simple moving average of $627.85.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Research analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

Analyst Ratings Changes

A number of analysts have recently issued reports on INTU shares. BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Barclays reduced their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by company insiders.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.